New Delhi- GST rates may be reduced further, Prime Minister Narendra Modi has hinted at this. The GST system, launched eight years ago, has recently made its biggest change. The GST Council has decided to reduce GST rates on about 400 items, which came into effect on September 22, the first day of Navratri.
Modi said that as the country becomes economically stronger, the tax burden will reduce. He said that the GST changes are structural reforms that will give new wings to India's development story.
After inaugurating the UP International Trade Show in Greater Noida, Modi said, "Today the country is celebrating the GST festival. But we are not going to stop there. In 2017, we introduced GST to strengthen the economy. This year, we have introduced it again, which will strengthen the economy. As economic strength increases, the tax burden on the people will decrease. With the blessings of the countrymen, the process of GST reforms will continue."
The Prime Minister, while inviting companies from all over the world to invest in India, said that India has created open platforms that bring everyone together. These include UPI, Aadhaar, DigiLocker, ONDC, etc., which provide opportunities for all. His mantra is Platform for all, progress for all. Despite the turmoil and uncertainty in the world, India's growth is impressive.
Emphasizing on Swadeshi, Modi said, "India should become self-reliant. Every product that we can make in India, we should make it in India." He said that we are developing a vibrant defence sector in India. Every part should have the stamp of Made in India. We are creating such an ecosystem."